Strategy Implementation Definition
Strategy implementation is the process by which an
organization translates its chosen strategy into action plans and activities,
which will steer the organization in the direction set out in the strategy and
enable the organization to achieve its strategic objectives.
Strategy Implementation
Definition:
Strategy Implementation refers to the execution of the plans and strategies, so
as to accomplish the long-term goals of the organization. It converts the opted
strategy into the moves and actions of the organization to achieve the
objectives.
Strategy
implementation is the technique through which the firm develops, utilizes and
integrates its structure, culture, resources, people and control system to
follow the strategies to have the edge over other competitors in the market.
Strategy
Implementation is the fourth
stage of the Strategic Management process,
the other three being a determination of
(1)
strategic mission, vision and objectives,
(2)
environmental and organizational analysis, and
Requirements
of Strategy Implementation
1. Institutionalization
of Strategy: First of
all, the strategy is to be institutionalized, in the sense that the one who
framed it should promote or defend it in front of the members, because it may
be undermined (weakness).
2. Developing
proper organizational climate:
Organizational climate implies the components of the internal environment, that
includes the cooperation, development of personnel, the degree of
commitment and determination, efficiency, etc., which converts the purpose into
results.
3. Formulation
of operating plans:
Operating plans refers to the action plans, decisions and the programs, that
take place regularly, in different parts of the company. If they are framed to
indicate the proposed strategic results, they assist in attaining the
objectives of the organization by concentrating on the factors which are
significant.
4. Developing
proper organizational structure:
Organization structure implies the way in which different parts of the
organization are linked together. It highlights the relationships between
various designations, positions and roles. To implement a strategy, the
structure is to be designed as per the requirements of the strategy.
5. Periodic
Review of Strategy:
Review of the strategy is to be taken at regular intervals so as to identify
whether the strategy so implemented is relevant to the purpose of the
organization. As the organization operates in a dynamic environment, which may
change anytime, so it is essential to take a review, to know if it can fulfil
the needs of the organization.
Even
the best-formulated strategies fail if they are not implemented in an
appropriate manner. Further, it should be kept in mind that, if there is an
alignment between strategy and other elements like resource allocation,
organizational structure, work climate, culture, process and reward structure,
then only the effective implementation is possible.
Process of Strategy Implementation
1. Building
an organization, that possess the capability to put the strategies into action
successfully.
2. Supplying
resources, in sufficient quantity, to strategy-essential activities.
3. Developing
policies which encourage strategy.
4. Such
policies and programs are employed which helps in continuous improvement.
5. Combining
the reward structure, for achieving the results.
6. Using
strategic leadership.
The
process of strategy implementation has an important role to play in the
company’s success. The process takes places after environmental scanning, SWOT
analyses and ascertaining the strategic issues.
Aspects of Strategy Implementation
1. Creating
budgets which provide sufficient resources to those activities which are
relevant to the strategic success of the business.
2. Supplying
the organization with skilled and experienced staff.
3. Conforming
that the policies and procedures of the organization assist in the successful
execution of the strategies.
4. Leading
practices are to be employed for carrying out key business functions.
5. Setting
up an information and communication system, that facilitate the workforce of
the organization, to perform their roles effectively.
6. Developing
a favourable work climate and culture, for proper implementation of the
strategy.
Strategy implementation is the time-taking part of the overall process, as it puts the formulated plans into actions and desired results.
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